Calculating Your ‘High-Three’ Average Salary
Everybody knows what the high-three is for your future retirement – right? But who knows how to calculate the high-three?
Federal employee retirement news: news about retirement-related topics as it pertains to employees of the federal government. Topics include FERS, CSRS, the latest TSP performance, annual COLA updates, and more.
Everybody knows what the high-three is for your future retirement – right? But who knows how to calculate the high-three?
Some people just assume that, since the Social Security surplus was “borrowed” or “stolen,” during the period when it was not needed to pay Social Security benefits, the government will automatically repay the looted money when it is needed. It is not at all certain that this will happen.
There is much debate today about how solvent Social Security is, but most of the debate is over when the trust fund will run out of money, not about whether or not the trust fund actually holds real assets.
For federal employees in the FERS system, the Thrift Savings Plan is intended to provide 1/3 of your retirement income. So, how do you go about creating a plan for your TSP that won’t leave you scratching lottery tickets as a last resort?
How to fix Social Security is a topic that has been around ever since a demographer realized that the number of workers supporting an individual Social Security recipient was gradually dropping. The options are to cut benefits or raise more revenue.
When arguing a legal principle in an effort to obtain a benefit for a Federal or Postal Employee, effective advocacy sometimes requires two prerequisites: discretion and the recognition that “process” is sometimes as important as the “substance” of an argument.
The FERS annuity estimate is really simple to calculate. But the actual supplement you are paid can be significantly less than the estimate. How does this happen?
Many people contemplating retirement from the government but still in their fifties plan on working in the private sector. This can result in a substantial income but you might be surprised at what happens in your income tax return.
The days of ignoring your Thrift Savings Plan are over, at least if you want to have some hope of managing for positive returns.
Some financial planners believe that a survivor annuity is a good choice, while others may encourage you to forgo a survivor annuity and to purchase life insurance with the money you “saved” by not electing a survivor annuity. Here are several considerations.